Craigslist responds to eBay lawsuit

Following a lawsuit by eBay against them, Craigslist has fired back at their partner in online peddling, claiming their actions are unethical and nothing more than a thinly-disguised hostile takeover. eBays assertion was that the Craigslist board was working to dilute eBays stake in the company, against their wishes, and opted to fire a pre-emptive lawsuit at them to prevent it from occurring. Interestingly, it seems the lawsuit took place before any discussions did. At least, that's what the Craigslist owners are saying, making eBay look like they have taken a shoot first policy.

Whether or not this is true remains to be seen, as the exact nature of eBay's complaint isn't yet available to the public. Either way, eBay's 28% share, while not a majority, does represent a sizable chunk of the company. Protecting their investment might just mean eBay attempting a takeover, though I certainly hope that does not happen.